State Rep. Michele Lepore-Hagan (D-Youngstown) today announced that the Youngstown Neighborhood Development Corporation (YNDC) has been selected to receive $40,000 in state funds to help support and expand their microenterprise program. The funds will allow the YNDC to support local Mahoning Valley entrepreneurs by providing intensive business planning classes, one on one technical assistance, and financial counseling.

“Small businesses are the lifeblood of our local economy – they create jobs for local workers and return customers’ dollars back into the Valley,” said Lepore-Hagan. “I am pleased to see the state partnering with the YNDC to provide local entrepreneurs with the tools they need to start or grow a successful business.”

The investment is part of the state’s Microbusiness Development Program, designed to encourage entrepreneurship and create and retain long-term, private sector jobs. A microbusiness is defined as a for-profit entity owned and operated by low- and moderate-income individuals with five or fewer employees, one of whom owns the business.

The YNDC was one of 13 community development focused non-profits to receive a total of $450,000 in state funds. The statewide project is expected to assist nearly 200 microbusinesses with start-up or expansion projects and 760 microbusinesses with training and technical assistance.